Saturday, 12 March 2011

Betfair Down Again

It's been almost 4 hours since the site went down. It's never been down this long since I started using it, so that's a record. They couldn't have timed it any worse actually, with all this sport on. The weekend is their most profitable time as well. I'm not blaming anyone, but I know there are many who have been affected by this financially, with no option to trade-out of bets they made earlier in the day. This could potentially cost someone thousands and is one of the possible pitfalls of doing this full-time. Thankfully I have not been affected, although I feel as if I've missed out on a few decent money-making opportunities, especially on the Rugby League (Super League) game between Castleford and Catalans. I was hoping to get involved in that one. Betfair offer a great service and a great product, but it's not been their best month. Especially with the site going down so frequently.

There are other alternatives, although not as good as Betfair. Betdaq for example is another betting exchange along the same lines as Betfair, only with less liquidity and less markets. It's only a back-up in my view and that's all. Although if there was a lot more money in the markets, it might be a different story.


  1. Very understanding, John. You might feel differently if you had a big chunk of money in the market. 'Betfair offer a great service'?. I have an online bank account, online credit card accounts, and do all my financial transactions on the internet. No other site has this type of problem, Betfair have a monopoly on such issues ( er, and a monopoly in their business area ). They offer an abysmal service, and if Betdaq can't take advantage, they must be run by a bunch of amateurs.

  2. I know, but I've learned to 'not bite the hand that feeds you'. I know it's frustrating, but if Betfair didn't exist, we'd never be able to do this in the first place. We'd all be on Ladbrokes losing our money or be working in normal jobs.

    I'm beginning to think it's hackers anyway, and there is an explanation for it. It's never gone on this long before. If not, then it is poor stuff from them.

  3. I ve done the majority of my account today! Foolish you may say, but I'm a trader and like to have my money working for me, so I leave it in markets expecting to be able to trade out when the market goes "in-running" Im in and out all the time and guess what! The busiest period of the week, 2.45 Saturday afternoon and it goes down! Throughout ALL of the football matches. They love taking your commission and by prop trading taking your punters bets at wrong prices. They are an utter disgrace. They are a monopoly and know they can get away with it

  4. Sorry to hear that, not a nice feeling when you lose money, especially your whole bank. I've done it enough in the last month.

    Have Betfair come out and said what caused it? I see they put a message on the site yesterday just saying 'sorry for the problems and we're now back online taking bets' or something like that. It seems they are covering up what happened?